Applying for Bank Mortgage on a ROC Extension

[NYCruiser 423]

So basically since the 2 year GC has expired and spouse is on the Extension, the bank refused a pre-mortgage approval. Reason, the expiry date on the GC. I directed them to the USCIS website and phone number to call. The underwriter said high risk d/t that factor.

 

What the heck?

[Dohan 133]

They're the lender and it's honestly at their discretion. From a business standpoint, unfortunately they're right. Can you apply for the mortgage pre-approval without spouse? He can still live in the house, and you can still add him to the deed. Just a suggestion.

[shell20 746]

1 hour ago, NYCruiser said:

So basically since the 2 year GC has expired and spouse is on the Extension, the bank refused a pre-mortgage approval. Reason, the expiry date on the GC. I directed them to the USCIS website and phone number to call. The underwriter said high risk d/t that factor.

 

What the heck?

I read something similar, I think it was in Feb filers 2017.   They had the same issue, but then went to get an i55i stamp and I think they got the mortgage..   This is just another reason why ROC should not be allowed to take such a long time, if its not mortgage declines, it's job declines or driving licence problems. Not to mention travel issues.   Basically people have to put their lives on hold for as long as USCIS feel its fit to do so. I am going away for Christmas and I am already feeling the stress of coming back hoping all the airport staff know what an i55i stamp is and hoping I don't land in secondary yet again.

[dnp2014 44]

1 hour ago, NYCruiser said:

So basically since the 2 year GC has expired and spouse is on the Extension, the bank refused a pre-mortgage approval. Reason, the expiry date on the GC. I directed them to the USCIS website and phone number to call. The underwriter said high risk d/t that factor.

 

What the heck?

Which Bank ? 

 

I am also  in the process and received conditional aprpoval with the extension letter (my wife ROC). If they deny try with another bank. 

If the borrower is USC I think most of the big banks will accept the extension letter.  Also really depends on the loan officer and the processor being able to understand the process and explain it to the underwriter.  I remember 10 yrs back I had a loan officer made a personal call to the underwriter manager in Mineapolis to revive a denied mortgage loan. So its all depends on the loan officer and processor. 

 

 

See below thread.. some helpful information

 

[charmander 692]

USCIS paperwork ignorance is not limited to DMV or HR personnel. There are a bunch of past threads on mortgages during ROC, take a look at those but in summary you could deal with this two ways. Either spend all your time and effort to educate that ignorant underwriter, or find a different lender who is willing to earn your business.

 

For instance, this is from quicken loans: https://www.quickenloans.com/blog/applying-for-a-mortgage-as-a-permanent-or-nonpermanent-resident-alien clearly stating conditional permanent residents are eligible for mortgage.

 

 

 

 

[hellfyre 9]

3 hours ago, NYCruiser said:

So basically since the 2 year GC has expired and spouse is on the Extension, the bank refused a pre-mortgage approval. Reason, the expiry date on the GC. I directed them to the USCIS website and phone number to call. The underwriter said high risk d/t that factor.

 

What the heck?

Don't be offended or dismayed.  I have two homes and one was purchased while I was on H1-B. Second one was closed on 2 weeks before my extension expired.  The lender took the H1-B the first time and the second one used my extension letter as proof of residency.  Just find another lender. 

 

Sometimes a denial can be a combination of your immigration status, down payment, credit score and LOCATION.  If you are from NY-NY then you actually have a higher degree of scrutiny when it comes to mortgages and purchasing compared to the rest of the country.    Title companies in NYNY are required to dig quite a bit deeper by law compared to the rest of the country before a home purchase goes through, so lenders are way more cautious. 

 

It is a good idea to have at least one lender provide you with a per-approval before you even start looking. 

[dnp2014 44]

25 minutes ago, hellfyre said:

Don't be offended or dismayed.  I have two homes and one was purchased while I was on H1-B. Second one was closed on 2 weeks before my extension expired.  The lender took the H1-B the first time and the second one used my extension letter as proof of residency.  Just find another lender. 

 

Sometimes a denial can be a combination of your immigration status, down payment, credit score and LOCATION.  If you are from NY-NY then you actually have a higher degree of scrutiny when it comes to mortgages and purchasing compared to the rest of the country.    Title companies in NYNY are required to dig quite a bit deeper by law compared to the rest of the country before a home purchase goes through, so lenders are way more cautious. 

 

It is a good idea to have at least one lender provide you with a per-approval before you even start looking. 

In NY only one or 2 banks offer mortgages to H1B. M&T is one of the lender.  Who was your lender for both purchases ? 

 

[hellfyre 9]

21 hours ago, dnp2014 said:

In NY only one or 2 banks offer mortgages to H1B. M&T is one of the lender.  Who was your lender for both purchases ? 

 

dnp2014:  My homes are not in NY.  There are in other states and each one in a different one.  NY is not an easy market for H1-B, foreign nationals or conditional residents.  Very strict on money laundering too compared to other states so the Paul Manafort type purchases are avoided.

[dnp2014 44]

50 minutes ago, hellfyre said:

dnp2014:  My homes are not in NY.  There are in other states and each one in a different one.  NY is not an easy market for H1-B, foreign nationals or conditional residents.  Very strict on money laundering too compared to other states so the Paul Manafort type purchases are avoided.

I know.. My friend just moved to Dallas and he told me about less consumer protection in TX. 

[NYCruiser 423]

On 10/31/2017 at 12:34 PM, Dohan said:

They're the lender and it's honestly at their discretion. From a business standpoint, unfortunately they're right. Can you apply for the mortgage pre-approval without spouse? He can still live in the house, and you can still add him to the deed. Just a suggestion.

Whew..thanks for all the replies....this is a great site. The Bank is Citibank, NA (am I allowed to say that on this site?). Careful does not begin the describe the process....the issue is the USCIS to be honest. The expiration date of the 2 year Conditional GC and the NOA1 extension. Very confusing to them. Is it from the date of the letter OR the date of the expiration of the GC.

 

I am a detail orientated spouse, so I cross my T;s and dot my i's. However, the issue is the whole process has them confused. They called the USCIS customer service (mis)information number. The first tier idiot told them that he is NOT LEGAL until he gets the 10 year green card!!

 

I told them wrong!! Call again and get Tier 2. That person corrected the misinformation.

 

In the meantime I started with Chase and the Underwriter who is a Trinidad Immigrant was very sympathatic and approved the loan. Meanwhile, there are TWO hard hits on both our credit reports.....😖😖😖

[NYCruiser 423]

On 10/31/2017 at 3:33 PM, dnp2014 said:

In NY only one or 2 banks offer mortgages to H1B. M&T is one of the lender.  Who was your lender for both purchases ? 

 

Citibank.. Went to Chase Mortgage

[NYCruiser 423]

8 hours ago, hellfyre said:

dnp2014:  My homes are not in NY.  There are in other states and each one in a different one.  NY is not an easy market for H1-B, foreign nationals or conditional residents.  Very strict on money laundering too compared to other states so the Paul Manafort type purchases are avoided.

Well it goes both ways. When we got our Car Lease, they wanted a clear SS number and a Green Card evidence of Residence. They had people on H1Bs, Students who absconded on loans and leases and just left the cars in a lot, and left the country. We all suffer for those people

[NYCruiser 423]

On 10/31/2017 at 3:05 PM, hellfyre said:

Don't be offended or dismayed.  I have two homes and one was purchased while I was on H1-B. Second one was closed on 2 weeks before my extension expired.  The lender took the H1-B the first time and the second one used my extension letter as proof of residency.  Just find another lender. 

 

Sometimes a denial can be a combination of your immigration status, down payment, credit score and LOCATION.  If you are from NY-NY then you actually have a higher degree of scrutiny when it comes to mortgages and purchasing compared to the rest of the country.    Title companies in NYNY are required to dig quite a bit deeper by law compared to the rest of the country before a home purchase goes through, so lenders are way more cautious. 

 

It is a good idea to have at least one lender provide you with a per-approval before you even start looking. 

Thanks yes. We both have a score of over 800. However, when you have a recent Green Card holder they will scrutinize more which is fine

[dnp2014 44]

1 hour ago, NYCruiser said:

Citibank.. Went to Chase Mortgage

Ok.. saw your previous post. Glad that chase underwriter accepted it.